Business, 20.12.2019 20:31 joannachavez12345

Jay sold three items of business equipment for a total of $300,000. none of the equipment was appraised to determine its value. jay's cost and adjusted basis for the assets are as follows: col1 asset skidder driller platform total col2 cost $230,000 120,000 620,000 $970,000 col3 adjusted basis $40,000 60,000 0 $100,000 jay has been unable to establish the fair market values of the three assets. all he can determine is that combined they were worth $300,000 to the buyer in this arm’s length transaction. how would jay allocate the sale price and figure the gain or loss on the sale of the three assets?

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:20, robert7248

Anderson, a computer engineer, and spouse, who is unemployed, provide more than half of the support for their child, age 23, who is a full-time student and who earns $7,000. they also provide more than half of the support for their older child, age 33, who earns $2,000 during the year. how many dependents may the andersons claim on their joint tax return?

Answers: 3

continue

Business, 22.06.2019 01:30, hollymay808p0t9to

At the end of the week, carla receives her paycheck and goes directly to the bank after work to make a deposit into her savings account. the bank keeps the required reserve and then loans out the remaining balance to a qualified borrower named malik as a portion of his small business loan. malik uses the loan to buy a tractor for his construction business and makes small monthly payments to the bank to payback the principal balance plus interest on the loan. the bank profits from a portion of the interest payment received and also passes some of the interest back to carla in the form of an interest payment to her savings account. in this example, the bank is acting

Answers: 1

continue

Business, 22.06.2019 08:00, shatj960

Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows: treadmill exercise bike total sold 185 123 service contracts 67 55 the store can only sell a service contract on a new piece of equipment. of the 185 treadmills sold, 67 included a service contract and 118 did not.

Answers: 1

continue

Business, 22.06.2019 12:10, mcguirefam7071p2mbzz

Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations

Answers: 2

continue

You know the right answer?

Jay sold three items of business equipment for a total of $300,000. none of the equipment was apprai...